BUSINESS MANAGEMENT

Business Management



Business Management

Introduction

In today's world where entrepreneurship and owning your own business is considered to be the latest fashion to acquire wealth and status we see a lot of new businesses launching every month and every year but only few of them are able to maintain their position in the cutthroat competition and rivalry. Maintenance of the success of the business totally depends on the strategies a business owner adopts to operate it. Strategies are the nub that decides the success or failure of an organization. As we all well aware of the fact that, the main purpose of operating or conducting a business is to earn a profit and to run the business in a lucrative way. In order to fulfill this main ambition of the business, managers totally and completely rely on the strategies that they devise. Strategies provide direction to the business. The aim of this paper is also to talk about strategies. In this paper, marketing communication strategies are discussed. The following part of the paper discusses the marketing communication of the De Beers.

Background of the Organization

De Beers is said to be one of the largest mining companies. De Beers markets its diamonds throughout the world. The De Beers is said to manufacture and sell 35 percent of the diamonds and is also said to be a world supplier of diamonds amidst the many brands that exists. De Beers is also the company that manufactures synthetic diamond and abrasive products. This organization is owned by the De Beers Anglo-American (45%), Central Holdings (40% - belongs to Oppenheimer family), and Botswana board (15%). De Beers undertakes business functions of all kinds of diamond mining: underground, alluvial, open pit, coastal as well as under sea. The organization undertakes its operation from Africa and Canada and sells its products worldwide.

De Beers operates through the following subsidiaries:

Forevermark

Debswana Diamond Company

Element Six

Namdeb Diamond Corporation (Namdeb)

De Beers Diamond Jewelers

De Beers Consolidated Mines

Diamdel

De Beers Canada

Diamond Trading Company

In May 2011, DBCM agreed to sell Namaqualand Mines Trans HEX. The deal was worth ZAR 225 million which is equivalent to $ 33.6 million. In the same month, Namdeb has announced the cancellation of Bogenfels of its operations. Similarly, in May 2011 the Government of the Republic of Namibia (GRN) and De Beers has signed an agreement that allows NRM to increase its shareholding in De Beers Marine Namibia (DBMN) 15% to 50%, deepening the joint partners to diamond mining in Namibia pages (www.stern.nyu.edu).

Current Position of the Organization in the Market

With the help of joint venture that is established between Debswana Diamond Company (Debswana) and the government of Botswana, De Beers has been able to acquire domination Botswana when it comes to the production of diamonds. Debswana is said to have four operational mines. These four operation al mines are Jwaneng, Damtshaa, Orapa, and Letlhalkane. Jwaneng is regarded as the richest diamond mine in the world, and the largest out of the rest of the three ...